Tackle Today: Simplify your Process
April 4, 2023
Here’s how
Traders,
There are myriad ways to analyze the markets and determine your bias. You can dig deep into fundamental analysis to dissect a company’s earnings growth and debt loads. You can become an economist and keep tabs on dozens of data points designed to track the health of the consumer and the economy. You can be a news hound glued to CNBC or Bloomberg and be ready to pounce on every tidbit. You can follow monetary policy and the fate of interest rates. Each has merit and the potential to make you a more informed investor.
Or, you can follow the price. ‘Tis the simplest and, some would argue, the most effective choice. It cuts to the chase and follows what people do versus what they say. It helps you follow the money and stay on the right side of the trend. And it can be as straightforward as the following:
When prices break resistance – get more bullish.
When prices break support – get less bullish.
Many stocks and sectors have been breaking resistance in recent weeks. Have you responded?
Gino’s Gems
Chart of the Day: S&P 500 (SPY)
The S&P 500 has broken through two pivot highs in the past week.
Today’s line up
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